BlackRock (BLK), which is the world's largest asset manager, will use crypto exchange Kraken's CF Benchmarks’ bitcoin index for its new crypto offering.

Last month, BlackRock teamed up with Coinbase (COIN), another crypto exchange, to make bitcoin directly available to its institutional clients. Shortly after, BlackRock launched a spot bitcoin private trust for U.S.-based institutional investors.

“The launch of BlackRock’s bitcoin fund is a sign of how far crypto has matured as an asset-class,” CF Benchmarks CEO Sui Chung told CoinDesk.

“As the provider of the robust high-integrity benchmarks that enable asset managers to properly value their financial products, CF Benchmarks is proud to have played this integral role in helping facilitate the entrance of new investors and capital into the still-nascent asset class,” he added.

CF Benchmarks falls under the "crypto facilities" group of companies, a member of Payward Inc., which owns and operates crypto exchange Kraken. Kraken bought Crypto Facilities in a deal valued at least $100 million in 2019.

BlackRock didn’t immediately respond to a request for comment.

The Block first reported the news Friday.

Read more: BlackRock, Fresh off Coinbase Tie-Up, Offers Direct Bitcoin Exposure